Closing Bell: The bad good day (BIDU, BP, COMV, DRYS, IACI, LDK)

Baidu.com (NASDAQ: BIDU) Q3 earnings looked good on the surface at $2.16 EPS vs. $1.85 estimates as revenues rose 39% to $187 million vs. $188 million expected. The company said that new technology was causing a lower outlook to revenue of $174 to $180 million vs. $203 million expected. Shares were off as much as 20% but were 'only' down 11.7% at $382.23 late in the trading day.

BP plc (NYSE: BP) rose sharply after the company posted a 34% profit drop down to about $5.3 billion. This compares to $8 billion in profit a year ago when oil was through the roof and compares to $4.4 billion in Q2. Shares were up 4.4% at $57.95 late in the trading day.

Comverge Inc. (NASDAQ: COMV) was up sharply as many feel it will get a surge in orders for its peak load capacity solutions under part of Obama's $3.4 billion in SmartGrid grants made to large electric utility customers. Shares were up 10.5% at $13.00 late in trading session.

DryShips Inc. (NASDAQ: DRYS) was one of those reports that traders and investors could have said "so you buy" or "so you sell" after it reported earnings at $74.9 million, or $0.27 EPS, outside of interest rate swap charges. The combined revenue from drilling and drybulk operations was down nearly $100 million from a year ago to $228.2 million. Shares were down 7% at $6.40 late in the trading session.

IAC/InterActiveCorp (NASDAQ: IACI) was higher most of the day yet went south after beating earnings. The online content and online destination and search company noted that asset sales did help profits at a time where advertising revenues were slow. The company earned $21.7 million or $0.16 EPS (made $0.34 EPS on an adjusted basis) and revenue fell by 9% to $337 million. We had Thomson Reuters estimates at $0.13 EPS and $334.9 million in revenues. Shares were down 0.6% at $19.23 ahead of the closing bell.

LDK Solar (NYSE: LDK) rose as the solar wafer maker raised guidance to third-quarter revenue of $270 to $290 million and for wafer shipments to between 310 to 330 MW. Shares were up 2.8% at $7.33 late in the session.